Weakness in the US dollar has continued to overshadow global stock markets as investors offloaded exporters on fears that corporate earnings will decline. Commodity markets have also slumped, with traders beginning to ask if recent record prices were justified. London's main FTSE 100 index shed 1.4% to 5,828, led by the mining firms that have been the year's best performers. Germany's Dax shed 1.5%, France's Cac slid 1.3%, Tokyo's Nikkei 225 fell 0.7%, and India's Sensex slumped 3.8%. One stockbroker in Germany explained that: "Investors are extremely nervous and the sell-off is hectic as people are trying to minimise their losses." Banking giant HBOS added that: "Risky assets are under significant pressure across the board." ... http://news.bbc.co.uk

Six policemen have been killed in Nigeria's oil capital, Port Harcourt. Their bodies, which had bullet wounds in them, were found floating in a river in the city. Two other members of the marine police patrol survived. The police have not said who they suspect is behind the killings and no group has claimed responsibility. Militants have staged a series of attacks in the region recently to push their demands that local people should benefit more from the oil wealth. Last week, three foreign oil workers were briefly kidnapped in the city and a US man was shot dead. An upsurge in attacks on foreign oil interests has cut the country's oil production by 20%. ...http://news.bbc.co.uk/2/hi/africa/4772413.stm

The United States will restore full diplomatic relations with Libya and remove the North African country from the list of state sponsors of terrorism, the State Department announced Monday. The removal from the terrorism list is expected to take place after a 45-day waiting period. "We are taking these actions in recognition of Libya's continued commitment to its renunciation of terrorism and the excellent cooperation Libya has provided to the United States and other members of the international community in response to common global threats faced by the civilized world since September 11, 2001," said a statement from Secretary of State Condoleezza Rice. He went from friend to enemy, and now back to friend. And how many people died during the time the Politicians played the friend or foe game?...http://www.cnn.com/2006/US/05/15/libya/index.html?section=cnn_world

U.S. and Mexican police cooperated to arrest a Mexican couple who allegedly tried to sell a four-month-old baby over the Internet and hired a trafficker to take him to a supposed buyer in the United States, the U.S. Embassy announced on Thursday. Mexican police arrested Ana Luisa Hidalgo Rivera and Alex Hernandez, both Mexican citizens, on Thursday on charges of attempting to sell the baby boy to an individual in Dallas, Texas, for $50,000. Hidalgo Rivera claimed the child was hers. The statement said the sellers hired a migrant smuggler to take the infant across the border into the United States, but offered no further information on the purported buyer. A tipster whose name was not released learned of the transaction through an Internet chat room and advised the U.S. Spanish-language television network Univision. ...http://www.cbsnews.com/stories/2006/05/11/world/main1613862.shtml?source=RSS&attr=World_1613862

Two British soldiers died in a roadside bombing as they patrolled near the southern Iraqi city of Basra, the Ministry of Defence said. The deaths bring to 111 the total of British troops killed in Iraq since the American-led invasion. The attack, in which another British soldier was also injured, happened late on Saturday night while the soldiers carried out a routine patrol north of Basra. All three soldiers were from the Royal Anglian Regiment. In a statement, Des Browne, the Defence Secretary, said that he was "deeply saddened" to hear of the deaths.But he said that now was not the time for British troops to be pulled out of the country, where the conflict is spiralling out of control....http://news.independent.co.uk/world/middle_east/article484121.ece

Close allies of Tony Blair say that he has warned Gordon Brown he will not endorse him as his successor if he is "deposed" as Prime Minister before he is ready to stand down. Mr Blair is said to have issued the threat last week after Mr Brown recalled the way Margaret Thatcher was forced out by her own party in 1990. "Remember that when Margaret Thatcher left, it was unstable, it was disorderly and it was undignified," the Chancellor told GMTV.According to allies, the Prime Minister viewed Mr Brown's remarks as a "naked threat" to force him out of office. One said: "It was communicated to Gordon that if Tony was deposed, he and his supporters would not support Gordon as the next leader."Blairites deny they plan to put up a rival candidate against Mr Brown, the overwhelming front-runner to succeed Mr Blair....http://news.independent.co.uk/uk/politics/article484129.ece